According to ESPN's Buster Olney, the Red Sox have acquired closer Andrew Bailey from the A's.
Josh Redd!ck is headed to Oakland along with 20-year-old third base prospect Miles Head and 19-year-old pitcher Raul Alcantera. Bailey, 27, has a 2.07 career ERA and 9.0 career K/9 through three major league seasons. He's expected to serve as Boston's primary ninth-inning man in 2012, pushing the newly-acquired Mark Melancon into a setup role. Bailey is eligible for arbitration for the first time this winter and is under team control through 2014. The Red Sox are also getting outfielder Ryan Sweeney from the A's as a throw-in.

The Marlins and Cubs have agreed to a trade that will send Carlos Zambrano to Miami for Chris Volstad, reports Bruce Levine of ESPN Chicago (Twitter links). The trade is still pending physicals. Levine says the Cubs will pay $18MM of Zambrano's $15MM salary.

Even if they’d had a relatively quiet offseason, the two-time defending American League Champions could have been a playoff-caliber team in 2012. Yet they spent aggressively on one of the top available arms and became a little scarier in the process. The Rangers have agreed to sign Yu Darvish to a six-year deal in the $60MM range. Agents Don Nomura and Arn Tellem represent the 6'5" 25-year-old and negotiated for bonuses that could be worth another $10MM.

5:05pm: Darvish can opt out of the contract after the fifth year, Jeff Wilson of the Fort Worth Star-Telegram tweets.

6:41pm: Jon Paul Morosi of FOX Sports reports (on Twitter) that Darvish must hit certain "high-end award levels" to be able to opt out of the contract after five years.

The Toronto Blue Jays have reached agreement on a one-year, $4.5 million contract with free-agent reliever Francisco Cordero, a baseball source told ESPN.com.

Cordero, 36, is 44-45 with a 3.17 ERA and 327 saves in 13 seasons with Detroit, Texas, Milwaukee and Cincinnati. Cordero recorded 150 saves for the Reds from 2008 through 2011, but lost his job recently when the Reds signed former Phillies closer Ryan Madson to a one-year deal.

Cordero joins Sergio Santos, Darren Oliver and Jason Frasor as additions to the Toronto bullpen this offseason. He is expected to serve as a setup man to Santos in 2012.

The Blue Jays have also signed shortstop Omar Vizquel to a minor league deal and reached agreement on a three-year, $20 million extension with starting pitcher Brandon Morrow this week.

where stunna at, all worried bout our bullpen. i'd say our bullpen is now pretty damn nice with the additions of santos, cordero, oliver, and frasor. janssen should be resigned any day now.